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Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
 In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance even after the banning of Russian oil delivered by sea, Russian refined products will be banned within Q1--2023 and crude oil will be banned in December 2022.
Prior further expanding on what is Europe's plan to tackle the energy crisis its important to explain that most of European countries are interconnected on a power grid, which allows energy traders / countries to buy and sell energy on the spot depending on their needs / forecast at that time. Without the Grid infrastructure the energy cost for million households the past year could have been considerably higher than what we've faced.
Last week Berlin moved with seizing the local refining unit of Rosneft in Schwedt, meantime their government is also working to nationalize Uniper SE, steps towards a direction to be more dependent and further control the energy production. Up to now we still haven't seen Russia's retaliation on that move.
Now European diesel buyers are stepping up, the Russian diesel still trades on a discount, but not at the discount traders were enjoying on May, i.e., $30pmt but anything between $6pmt to $10pmt for NEW and Med respectively. Worth mentioning that due to price backwardation (oil prices expected to be lower than the price if were supposed to be bought today) traders are still avoiding cargo stocking as their not adding any value on their books.
Russia to year still supplied 44% of the total diesel supply and Rosneft posted a 13$ rise in midyear profit.
The East CPP MR and LR market remains bullish, with MR's leading the race in Feast markets, at present the MR Pacific basket is averaging $67,000 pdpr. Moving to MEG and WCI market softens slightly but still very healthy rates for MR's and LR1's. 35KT SIKKA/JAPAN stand at $38,000 pdpr and TC5 55KT AG/JAPAN $54.593 PDPR.
MR Atlantic basket has significantly improved since early December with TC2 (37KT ARA/USAC OR WAF stands at $30,441 pdpr for USAC discharge and $35,676 pdpr for WAF. The Backhaul from USG performs poorly if compared to last week $13,598 pdpr and LR1 60KT ARA/WAF $36,000 pdpr.
While Europe is still working on keeping us from freezing the upcoming winter, many traders and government officials express their concerns on how we will manage to keep the engine running under these harsh conditions.
By Dimitris Kourtesis
Tanker Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
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